To the existence of banks of discount for cash... there can be no objection, because there can be no danger of abuse, and they are a convenience both to merchants and individuals. I think they should even be encouraged, by allowing them a larger than legal interest on short discounts, and tapering thence, in proportion as the term of discount is lengthened, down to legal interest on those of a year or more. Even banks of deposit, where cash should be lodged, and a paper acknowledgment taken out as its representative, entitled to a return of the cash on demand, would be convenient for remittances, travelling persons, etc. But, liable as its cash would be to be pilfered and robbed, and its paper to be fraudulently re-issued, or issued without deposit, it would require skilful and strict regulation.

It is said that our paper is as good as silver, because we may have silver for it at the bank where it issues. This is not true. One, two, or three persons mig…

The system of banking we have both equally and ever reprobated . I contemplate it as a blot left in all our constitutions, which, if not covered, will end in t…

If the debt which the banking companies owe be a blessing to anybody, it is to themselves alone, who are realizing a solid interest of eight or ten per cent on…

The stock of money, prices and output was decidedly more unstable after the establishment of the Reserve System than before. The most dramatic period of instab…

Capitalism should not be condemned, since we haven't had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank.…

A national debt, if it is not excessive, will be to us a national blessing.